After a year’s worth of shopping and research, a criminal defense attorney and digital operations manager launch a line of accessories at local shops.Side Hustle School features a new story EVERY DAY of someone who started a hustle without quitting their job. You’ll learn how they got the idea, how they overcame challenges along the way, and what the results are. Share: #SideHustleSchoolShow notes: SideHustleSchool.comTwitter: @chrisguillebeauInstagram: @193countries
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This is an unofficial transcript meant for reference. Accuracy is not guaranteed.
Hey there side, a school listeners and friends. Welcome back many miss Cristel about everyday show, I'm bringing you a different, true story of an employee who creates a new source of income for themselves, usually without going into debt, and often doing it pretty quickly. Now, on that last point today stories a bit different and have some commentary about it at the end, story of in Atlanta couple, who sells affordable, high quality accessories, and they got there. You're pretty successful business and make its doing something like seventy thousand dollars in net income this year, opposite, that's fantastic, will look a process how they got their idea and so on, but in the store they did spend about a year getting their project together before they put it out to the world, and while I have absolutely no criticism of them, obviously what they're doing is wonderful. It's been fantastic for them on site a school. I usually tend to encourage people to get started a bit quicker. So how can you be? This idea of wanting to put together something is high quality when you really believe in and has the best chance of success with not spending a huge amount of time on something. It's unproven that you dont know it's gonna work better,
but that in the end, I talk about the differences in these approaches and how maybe you can find what's best for you. But first of course I'll tell you the story. One of them is a criminal offence attorney together they get this vision and go around shopping, researching and eventually kind of making their own product as well. So I think I find it into in bringing the historic rhetoric this quick. Thank you to our sponsor support for this policy. Comes from progressive saving money, and your car insurance is easy with progressive. It's an average savings Seven hundred ninety six dollars for customers who switch and save in fact, customers can qualify for an average of six discounts on their auto policy with progressive, including discounts just for darting a court online or owning multiple vehicles get your quote online. Aggressive dot com and see how much you could be saving national average annual conference. Him he's been you customer service, whose habit progressive and twenty nineteen
Discuss variant are not available in all states and situations, they story comes from Charae Davis, Foster and Gregg Foster in Atlanta. Georgia, ideas you, is a criminal offence. Attorney and Gregg is a digital operations manager, their sight ourselves Admiral row a men's and women's accessories company offering high quality vintage and made in modern pieces at affordable prices visit began when she removed to Atlanta right after law school who are studying for them. Looking for work one day while in Gregor shopping at a local outdoor ma. I noticed that allow the accessories they light were outside of their price range, even though they all looked like,
work necessarily highquality after wondering why no companies in the market seem to have higher quality materials and more affordable accessories. They decided to try themselves. The idea was to make a site offering the best modern handmade inventions pieces. They would search locally for high quality, vintage work, fine, great local artists for the handmaid pieces and get the best in modern accessories from wholesale suppliers. Three and Gregg me, while would be the resellers but it had five thousand dollars and start up costs which they used to buy wholesale invented pieces and a five hundred our DSLR camera to take product photos between putting website, together, locking down social media accounts in building up their inventoried. It took about a year for sharing Gregg Ticket going. It's been there. Weekends, driving around Atlanta and nearby suburbs to shop at antique malls, state sales and thrift stores. One day a week, they look for online sales, reckless Firstly, a manager of photography, foreign apparel company, so he had some photo skills already. They bought him foam, whiteboard white tape and a basic use tripod to make a photography light box at home with instructions they found on line. Then they looked at similar accessory sites for style inspiration and took the photographs themselves. After all, the prepared
and that years worth of work it was time to launch at first. They didn't make many sales at all. Even after putting pictures on social media, they then decided to sell at local markets to develop relationships with other small business owners and perhaps find stories that focused on selling items made by local brands. They applied it in store during the holidays and rented up from their after a few local markets. They do so to try making their own jewelry featuring other comrades didn't make sense because they didn't have a capital to support it and are often wasn't much unique about it. Ensure we wanted to make fine classic jewelry. That was in line with the original version of the company, those high quality, affordable pieces. She began washing, two videos and testing jewelry. Most of them got so that the first market, so she added a few more each time until they had a phone line to reinvigorate still. Course: vintage pieces from a state sales and antique balls, and now they have relationships with sellers who get larger stocks of into times, but even bought from customers who tell them about their nor stock from their mothers are grandmothers for the modern pieces they first bought from wholesalers and then
that's a long term. Relationship with a couple of them is has turned into a working relationship where the wholesalers actually manufacture pieces, Tureen Gregg of design themselves, most of Admiral Rosales, come from local stores, wholesale accounts and consignment markets and pop up shops. Since Gregg had that experience at an apparel company, he had a basic idea of how to calculate wholesale costs, make sure they were still making enough money. For the business can sign is riskier, but also more flexible and is actually done better for them than wholesale. They try to do pop ups market, at least once a month s best the major markets which have more foot traffic, many more sales and more opportunities to gain repeat customers as for marketing. Well, they just done some social media and word of mouth aided, try working, the pr and social media company, but it wasn't a good fit just didn't work very well as well side. He would learn about himself. He also took a utumbi class or about s YO and was able to build displays for local stores in markets with his woodworking skills, as you can tell Greg, out of existing skilfully brought to this business as well as a couple things it learned along the way admiral
began by stocking a few products, selling them and then using the money to either increase their stock or develop new products. The first year profit was twenty five hundred dollars, still significant. Of course, but now in twenty seventeen o looking at making more than seventy thousand dollars, their long term hope is take the business full time they plan to expand. The wholesale part into additional states improve their offerings, perhaps launching a wedding category and improving their online presence by building site hustle into a real business Korean Gregg believe their building there you're amazing, congratulations to Sherry and Gregg. I see my notes if their profit in twenty seventeen is actually seventy two thousand dollars. Seventy thousand dollars is nothing to argue with force. I just want to present an alternative to somebody else. Who's going down this rough because one of the things that people get discouraged by when they're starting a new site hustle or maybe even trying to make it a small business like what you see here is they spend a long time preparing and, and it doesn't work out so then you feel really bad, because you like
but all this time into something it turns out, it wasn't the right idea, or maybe it wasn't- that it was a totally wrong idea. I just got something pretty major wrong about it. Now the thing is totally normal, like a lot of projects. You don't have it right in the first place, yet to go back and change something, or maybe even look at the fundamentals, but, generally speaking, wouldn't be better if you could fast track that process a little bit that could lower your risk, not just in terms of finances but in time the time you're, putting into it your emotional investment into something that I think is important as well. So if you have a clear vision for something you know what you want to do, then by all means. Don't let me dissuaded from that, even if it takes a long time to get going by four new site hustlers who are trying to approach. I might recommend a couple things like what, if you just sold one thing, instead of building a whole portfolio. In this example, you have jewelry that they made have pieces purchased from wholesalers, yet the local brands they're trying to represent what have you just sold one thing, slam encouraging it to think smaller, which I know is counter intuitive and people always tell you think,
Big and dream. Big unfollow that dream lapse lately should follow a dream, but I think actually great when your dream is achievable in a short period of time, and that gives you the focus and the belief in yourself and the project to keep going, maybe even build it bigger. After that, nothing, you could I doing is pre selling through some kind of crowd, funding campaign or other efforts without several crowd findings. As recently I've got another great when coming up next week and I should think The best things about cross funding is not just the money that it brings in its also that the sign of competence that market validation when there is a successful crowd, binding campaign- you can say well at least some people want this. Some people have chosen to not only say it's a good idea. They actually invested in it like they put down your credit card and committed to purchase this item before it even made Those are just my two cents on that, but my seventy two thousand dollars, but of play, something that's valuable to some people again
or to Syrian Gregg looks like a wonderful sight, encourage you to check it out and the show notes even come see those notion. All the links at sight of school dotcom slash three forty at three four zero. We are rolling along and you believe it threaten forty episode. So far. No forget the inspiration is good, but inspiration with action is better. I want you to go and for yourself just like the people, you care about on a show every day have something I doing something. The showed eyes is helpful to you in that regard. Thank you for listening I'll, be back to Morrow uncritical about recital sensible.
Transcript generated on 2020-08-06.